Behind on payments — here's the honest playbook.
First, a real talk: doing nothing is the worst outcome. Foreclosure hurts your credit for years, wipes out any equity, and can leave you with a deficiency. You have more options than most people realize — as long as you move now.
The timeline you're actually on
In Arkansas, most non-judicial foreclosures run roughly 90–120 days from Notice of Default to auction. That's not a lot of time, but it's enough to execute any one of the paths below if we start this week.
Every legitimate option, laid out
1. Reinstatement or modification
If you can get current — through family help, a payment plan, or a loan modification — that's almost always the best outcome. I'll tell you honestly whether this looks possible based on your numbers, and point you to HUD-approved housing counselors who do this work for free.
2. Traditional sale with equity
If you have equity and a little time, a fast traditional listing (through OZK Realty or a referral agent) can net you thousands more than a cash sale. An aggressive list can close before the auction date.
3. Short sale
If you owe more than the home is worth, a short sale lets you walk away without foreclosure on your credit. It takes longer and requires lender approval, but it's often the right call for underwater homeowners.
4. Subject-to cash purchase
If time is the real problem, a cash buyer (disclosed as Hansen or an affiliated investment entity) can sometimes purchase the home "subject to" the existing mortgage — keeping it current while you move on. This is only suggested when the math works for you.
What I need to give you real guidance
- How many payments you're behind.
- Whether you've received a Notice of Default or auction date.
- Your approximate loan balance.
- Your best guess at the home's value today.
- Whether you want to stay, leave fast, or just stop the bleeding.
The sooner we talk, the more paths stay open. I'll give you honest options even if the answer is that I'm not the right fit.
Get my situation-specific optionsNote on outside links: Any links on this page to HUD counselors, attorneys, or lenders are for convenience only. Clicking leaves the OZK Realty site; we don't endorse and don't control linked content.